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Why Triquint Semiconductor (TQNT) Is Up Today

NEW YORK (TheStreet) -- Triquint Semiconductor (TQNT) was rising 9.17% to $8.81 shortly after noon on Thursday after the company reported fourth-quarter earnings results that beat analysts' expectations.

Revenue increased 15% year over year to $267.7 million, or 16 cents a share. Analysts had expected EPS of 13 cents on revenue of $224.6 million. The company also said in its quarterly report that non-GAAP EPS for the full year should meet or surpass the consensus estimate of 49 cents. Finally, Triquint expects revenue in the range of $170 million to $180 million in the first quarter and a net loss 11 cents to 13 cents a share. This is well below the analysts' expectations of revenue of $220 million and EPS of three cents.

Needham also upgraded Triquint to "buy" from "hold" on Thursday and set a target price of $10. The firm cited valuation and the expectation for re-accelerated revenue growth in 2015 as the reasons for the upgrade.

TheStreet Ratings team rates TRIQUINT SEMICONDUCTOR INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

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"We rate TRIQUINT SEMICONDUCTOR INC (TQNT) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 4.4%. Since the same quarter one year prior, revenues rose by 24.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • TQNT has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. To add to this, TQNT has a quick ratio of 1.55, which demonstrates the ability of the company to cover short-term liquidity needs.
  • TRIQUINT SEMICONDUCTOR INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, TRIQUINT SEMICONDUCTOR INC swung to a loss, reporting -$0.16 versus $0.29 in the prior year. This year, the market expects an improvement in earnings ($0.06 versus -$0.16).
  • The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. Compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, TRIQUINT SEMICONDUCTOR INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • Net operating cash flow has significantly decreased to -$27.61 million or 486.11% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
  • You can view the full analysis from the report here: TQNT Ratings Report

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